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This article was originally written for and published by DesignRush.
A recent survey revealed a significant shift in American consumer behavior, serving as a warning that brands need to go green or risk losing customers big time.
Today's consumers are actively seeking out information about a brand's environmental practices before making purchasing decisions, and this is backed by data from a survey of 2,000 American consumers commissioned by product value management firm Propel Software.
The study finds that 55% of respondents will stop buying from a brand if they discover it is not eco-friendly, while 65% proactively check to see whether what they’re buying is eco-friendly or not.
Additionally, 42% of the respondents think they can accurately spot greenwashing.
And while 46% believe themselves to be “brand loyal,” 45% will ditch their favorite brands when found to be greenwashing, finding no trouble switching to an eco-friendly competitor instead.
“Transparency is important to consumers, and brands should take note if they want customers to continue to be brand loyal,” Propel Software CEO Ross Meyercord stated. “Today’s consumers are savvy and not easily tricked.”
66% of Republicans and 53% of Democrats will choose to spend 10-30% more on products from eco-friendly brands. This shows that politics doesn't play a major role in this case.
Last year, a “record party gap” was found by a study on policies surrounding economic growth and environmental protection. It found that 78% of Democrats and only 20% of Republicans will “prioritize the environment over the economy.”
“Data shows consumers, regardless of political affiliation, are putting their hard-earned money towards brands and products that elevate environmental causes,” Meyercord said.
Furthermore, data shows that overall spending on green products from eco-conscious businesses is expected to surge by 33% in 2024 compared to last year.
This trend towards eco-friendly consumption is expected to continue in the coming years.
As consumers become more informed about the environmental impact of their choices, they will increasingly seek out purpose-driven brands that share their values.
“Those brands that accurately communicate their environmental practices to consumers are being rewarded with loyal customers that are spending more with them. Green companies partnering with green consumers makes for a happy, healthy planet,” Meyercord concluded.
